AGI to continue expanding its core businesses

Published December 18, 2018, 12:00 AM

by manilabulletin_admin

By James A. Loyola

Alliance Global Group Inc., the investment arm of tycoon Dr. Andrew Tan, is aiming to continue expanding its various businesses next year encompassing real estate, leisure and gaming, infrastructure liquor, and fast service restaurants.

Kevin Tan
AGI Chief Executive Officer Kevin L. Tan

In an interview, AGI Chief Executive Officer Kevin Tan said “definitely we are adding more townships, we are going to be introducing new townships, new projects for Megaworld.”

“We will be launching some new hotel projects as well, both opening and as well as we will start construction of new hotel projects outside manila. So we continue to expand outside metro manila as we have forecast. We do believe in the expansion of our tourism business,” said Tan.

For its property business, Tan said Megaworld remains confident of the prospects of the office segment as “BPOs are back.”

“And so we are full steam ahead again with our BPO expansion into various cities outside manila,” he said.

For its leisure and gaming business, Travellers International Hotel Group is launching two hotels next year, Sheraton and the Okura, at the Newport township. In 2020, the firm is launching the Ritz Carlton hotel.

Travellers is also developing a second integrated resort project, this time at the PAGCOR Entertainment City. “As far as our West Side City development is concerned, we will start the construction by early next year in time to be finished it by 2021,” Tan said.

Tan said the company will also spend more than $1 billion for West Side City which will be the fourth gaming licensee in the State-sanctioned gaming estate in Parañaque.

“We are going to be focusing quite a lot on entertainment. As indeed discussed in the past, we want to create this sort of this Broadway of Asia concept there. We are putting together a few theaters in one. Because right now, the theater industry in the Philippines is growing but we feel it is very fragmented all over,” Tan said.

Meanwhile, Tan said liquor unit Emperador, will be introducing more products while McDonalds will be adding 50 stores next year.

“And then of course Infracorp, we will be getting ready. I think they are now finalizing the concession agreement for both the sky train and NAIA. If that happens, we will be able to start with NAIA by third quarter and the sky train by fourth quarter next year,” he added.